Coordinate Measuring Machine (CMM) Market size was valued at USD 1,532.3 million in 2021 and is expected to grow at a CAGR ofÂ 6.3% over 2022â€“2028. Every company wants to increase profit margins while reducing operating expenses. When using cloud storage, it is unnecessary to spend a significant amount of money on servers and physical hard drives. Providers of cloud services typically charge monthly fees and only charge a few cents per gigabyte of data storage. Cloud service providers offer pay-as-you-go options for the data storage space required to serve their customers, so they only pay for what they need. It becomes simple for a manufacturing organization to transmit the data to the supplier of metrology equipment and receive the results. They could lower operating expenses by doing this, including labor and infrastructural expenditures. For instance, the ZEISS Group and Microsoft Corp. established a multi-year strategic alliance in October 2020 to quicken ZEISS' transition to a provider of digital services that prioritize the cloud. By standardizing its hardware and operational procedures on Microsoft Azure as its preferred cloud platform, ZEISS will be able to provide its clients with improved digital experiences, react quicker to shifting market demands, and boost productivity. To reduce manufacturing waste and prevent production errors, producers can transmit exact information about a workpiece to other facilities, clients, or suppliers involved in the supply chain using a cloud platform. Additionally, CMM and Industry 4.0 integration enables manufacturers to monitor and optimize the supply chain and obtain real-time production and product performance data, enabling businesses to provide customers with improved services and develop new revenue streams. Modern sensor technology is advancing metrology, enhancing quality assurance and inspection techniques, and producing more precise manufacturing procedures. CMMs are becoming more versatile due to multi-sensor technology, which integrates 3D non-contact laser scanners, five-axis scanning with a touch probe, optical systems, and surface-finish assessment. Sensors can be automatically switched out on tool racks so that the identical component can be measured again. For instance, In Feb 2022, as part of the company's entry-level ALTERA C series, LK Metrology has announced the availability of two additional sizes of coordinate measuring machines (CMM). The original ALTERA C versions were available in three sizes: 7.7.5, 10.7.5, and 10.7.7, with the largest having 1,000 x 650 x 650 mm X,Y,Z axis movements.
Fastest Growing Market
The Coordinate Measuring Machine Market is driven by the rising deployment of industrial IoTs for bridging IT and OT to optimize real-time applications. The market is being stimulated by the widespread and rapid adoption of automation in industrial inspection and quality control for effectively managing repetitive operations to watch and control real-time 3D data for maximizing production yield, efficiency, and accuracy. CMM technology has been refined by stylus or probe calibration at regular intervals to perform precise 3D measurements. The industry is also greatly stimulated by the growing integration of collaborative robots (cobots) with metrology software and coordinated measuring machines to boost inspection throughput. The lack of skilled operators and expensive machine costs impede market expansion.
coordinate measuring machine (cmm) market growing at a CAGR of 6.3% during forecast period 2022-28.
Hexagon AB, Keyence Corporation, Metronor, Mitutoyo Corporation, Nikon Metrology NV, Tokyo Seimitsu Co. Ltd.
North America is the fastest-growing region for coordinate measuring machine (cmm) market